Dime branches out in Williamsburg with new Bedford Avenue Branch

A bank grows in Brooklyn.

With an eye to the future of community banking and a new branch opening in its namesake neighborhood, The Dime Savings Bank of Williamsburgh—founded in 1864—is taking the borough by storm with its own brand of banking and an evolved community vision.

Dime’s innovative new branch—slated to open its doors on the corner of Williamsburg’s bustling North Fifth Street and Bedford Avenue by the end of the year—will be a unique 500-square foot “community space” for banking, a center designed around convenience for Williamsburg residents, businesses and visitors.

“We have watched with wonder the revival of this diverse and exciting neighborhood over the past decade,” said Vincent Palagiano, chairman and chief executive officer of Dime. “As Williamsburg’s sole homegrown community bank, we are anxious to bring our brand of banking to all those small businesses and residents on the north side that want and appreciate the balance of personal attention and effective technology that Dime provides.”

The Bedford Branch will include several ATMs, free wi-fi centers with charging stations, a community bulletin board and an overall community feel that Kenneth Mahon, senior executive vice president and chief operating officer of Dime, says will give the bank an edge over other institutions in the neighborhood.

“There is a lot of competition, but Dime is very unique,” said Mahon. “If you were to walk up and down Bedford Avenue, what’s missing is a community bank. Just like there are now many thriving neighborhood coffee shops, Dime is going to be the neighborhood bank. It’s not so much about driving sales, but being able to service the customers on a personal level.”

And, according to Mahon, better and more personal service starts with relationship bankers.

“In these new, smaller branches our relationship bankers will be able to do everything,” Mahon explained. “They can do customer needs assessment, help with financial transactions, and facilitate getting cash. It’s the concept of a universal banker and over the next few years, you’re going to start seeing it more and more. This will serve as the model for Dime at our new branches.”

To accompany the unique Bedford Branch, Dime plans to open another, full-service branch nearby in 2016. The community bank also expects to have three new locations up and running in Williamsburg within the next two years—situated along the Bedford/Kent Avenue corridors. According to Dime, the new locations are bracketed by two of its existing branches: the main office to the south at 209 Havemeyer Street at the foot of the Williamsburg Bridge, and the Greenpoint office to the north at 814 Manhattan Avenue.

The new Dime Bedford Branch will be located at 214 Bedford Avenue. For more information about the bank or its branches, visit dime.com.

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